FNBO Direct is the online-one bank division of First National Bank of Omaha. Anyone can open a checking or savings account with them right from their laptop or mobile device. And both types of accounts come with interest rates that are far above the national average
Like other online banks, FNBO Direct has done away with many of the pain points that are common with full-service banks like account fees and minimum balance requirements. And while they do offer a vast fee-free ATM network, they also do a great of leveraging digital payment options with their PopMoney® service and integration with the most popular digital wallets.
However, with no local branches available, FNBO Direct won't be a good fit if in-person banking options are important to you. Learn more about what they have to offer in our full review.
- Online-online bank offering competitive yields on checking and savings
- No monthly fees or minimum account balances to meet
- Send money to anyone for free with PopMoney®
FNBO Direct Details
FNBO Direct Savings
Who Is FNBO Direct?
FNBO Direct is the online-only arm of First National Bank of Omaha, which is based in Omaha, NE. FNBO has been around for more than 160 years. They have locations in seven states. The bank has $23 billion in assets. FNBO Direct is not a full-service bank and focuses on deposit accounts, credit cards, and student loan refinancing.
What Do They Offer?
While FNBO Direct offers several products, we’ll focus on their deposit products (savings and checking). Note that the rates listed below do not require certain balances. You’ll receive the rate as soon as you open an account.
FNBO Direct's Online Savings Account has a 0.90% APY with no monthly fees. It requires only a $1.00 deposit to open and there are no minimum monthly requirements. You can do ACH transfers to/from external banks and use Popmoney® for sending and receiving money from other people.
Popmoney® is a person-to-person payment method that's very similar to Cash App, Venmo, or Zelle. Instead of writing a check, you can send money using someone’s email address. When you receive Popmoney®, it will go directly into your FBNO Direct account.
Digital payment methods are also part of the account. These include Apple Pay™, Samsung Pay, and Visa Secure Remote Commerce (Visa SRC). You can also receive direct deposits.
The Online Checking Account is one of the few checking accounts that pays interest, and it also comes with no monthly fees. BillPay, account alerts, PopMoney®, free incoming wires, and free stop payments are all included.
You’ll have 24/7 worldwide access to over 2 million ATM locations. FBNO Direct does not charge ATM fees themselves. But other banks and ATM operators may charge their own fees.
Online Banking And Mobile App
Both financial products include online banking. With online banking, you’ll be able to:
- Check account balances
- Transfer funds
- View statements
- Pay bills
- Set up automatic payments
- Download account information and activity into Quicken® or QuickBooks®
With the mobile app, you can deposit checks by snapping a photo, pay bills, transfer funds, and view your account balance and history. The iOS app has a 3.1 out of 5 rating from 20 people. The Android app has a 4.1 out of 5 rating from 69 people.
While FNBO Direct says it has no fees, this really means no monthly fees. Overdrafts are $33 per transaction, with up to four maximum per day. One overdraft fee is waived per year. You have to opt in to overdraft protection.
\You might be wondering, “What overdraft protection?” since you are still being charged high fees. But that's how FNBO Direct chooses to structure its overdraft protection. However, if you don’t opt-in, any overdrafts will fail and you'll avoid incurring any fees.
FBNO Direct can be reached through its telephone number found on the contact page of the website. You can also send them an email or regular mail (address listed on the contact page). You’ll have 24/7 access to customer service.
Are There Any Fees?
There are absolutely no monthly fees with FNBO Direct's checking and savings accounts, which is great news. But, as outlined above, if you choose to opt-in to overdraft protection, you will pay overdraft fees of $33 per overdraft.
How Do I Open An Account?
Since FNBO Direct is an online-only bank, there is no way to open an account in person at a local branch. Accounts are opened completely online at https://www.fnbodirect.com/.
Is My Money Safe?
Yes - FBNO Direct is FDIC-insured, which means your account is protected for up to $250,000 in deposits (per depositor). Learn more about how to insure excess bank deposits above the FDIC limit.
Is It Worth It?
FBNO Direct is a no-fee online-only bank that has competitive checking and savings account rates. There are no minimum daily balances that must be maintained. It also has a large ATM network. If you are fine using a bank without branches, FBNO Direct could be a great choice.
Just be careful not to overdraft your account. Or, you choose to not opt into the bank’s overdraft protection and avoid fees (but of course, any overdrafts will fail). And be sure to compare FNBO Direct's rates and features with the other top online banks available today.
FNBO Direct Features
Savings and checking
Minimum Balance Requirements
Savings: 0.90% APY
None (online-only bank)
Over 2 million ATM locations
Over 55,000 fee-free ATMs through the Allpoint® ATM Network
Customer Service Number
Customer Service Hours
Mobile App Availability
iOS and Android
FNBO Direct Review
- Interest Rates
- Fees and Charges
- Customer Service
- Ease of Use
- Tools and Resources
- Products and Services
Robert Farrington is America’s Millennial Money Expert® and America’s Student Loan Debt Expert™, and the founder of The College Investor, a personal finance site dedicated to helping millennials escape student loan debt to start investing and building wealth for the future. You can learn more about him here and here.
He regularly writes about investing, student loan debt, and general personal finance topics geared towards anyone wanting to earn more, get out of debt, and start building wealth for the future.
He has been quoted in major publications including the New York Times, Washington Post, Fox, ABC, NBC, and more. He is also a regular contributor to Forbes.